From Home Furnishing Business
Z Capital Partners Acquires Twin-Star International
Z Capital Partners, the private equity management arm of Z Capital Group, has acquired Delray Beach, Fla.-based Twin-Star International, a designer and manufacturer of electric fireplaces and home furnishings.
Twin-Star designs, manufactures and markets decorative electric fireplaces, heaters, home furnishings and consumer electronics. The company has achieved the leading market position in the growing electric fireplace category and is the primary supplier to many retailers across North America.
“As the market leader in the electrical heating and furniture industry,” Twin-Star is well-positioned for continued growth and success, and we are excited to welcome the company into the Z Capital family,” said James Zenni, president and CEO of Z Capital.
Z Capital plans to leverage its financial strength and expertise to expand Twin-Star’s retail platform into additional channels, including homebuilding, hotels and lodging and commercial markets, as well as into new geographies.
Peter Harper, co-president and CFO of Twin-Star, Marc Sculler, co-president of Twin-Star, and Andy Bandremer, executive vice president of Twin-Star will continue to oversee daily operations for the company.
“We are excited to be part of the Z Capital family,” Harper said. “Z Capital’s financial strength, acumen and operational expertise will help Twin-Star continue to enhance and expand our product offerings and better serve our customers while further elevating the outstanding Twin-Star brand.”
New York-based Z Capital Group is a global alternative investment manager with approximately $2.3 billion of regulatory assets under management.